At Reed Financial Services, we strive to serve our clients’ best interests by understanding their needs and implementing strategic and personalized approaches to address those needs. It is a fast-paced work environment which offers an exceptional opportunity for individuals who complement our dedicated and collaborative working environment.
To find out more contact us at: [email protected]
Current Opportunities:
Wealth Planning Analyst
Reed Financial Services, Inc. is hiring a Wealth Planning Analyst. This is an entry-level, in-office position in the personal financial planning services industry in Mayfield Heights, OH with a start date as soon as practicable.
A Wealth Planning Analyst is a Financial Advisor in training, primarily supporting the firm’s Advisors in financial plan development and client service tasks. This includes client document review, financial plan data entry, scenario modeling, attending client meetings, updating client relationship management software, and other administrative tasks. This is an in-office position with hours from 8:30 am through 5:00 pm, Monday through Friday.
This is not a business development or prospecting role. At the outset, RFS wants you to learn and will not place you in a sales role until you are ready to sell from a position of knowledge and confidence. We will work with you to customize a career path plan based on your goals and experience, but generally, a candidate for this position is expected to complete their CFP® Certification within the first five years of employment in order to be promoted to Associate Advisor.
Compensation & Benefits
- Starting salary: $62,000 – $70,000 based on relevant experience and Required Qualifications listed below.
- Associate Advisor salary range: $80,000 – $100,000
- Attainment of Investment Advisor Representative licensure and/or CFP® Certification receive supplemental increases.
- Eligible for annual year-end bonus, which will be discretionary and based upon a variety of factors and considerations, including the results of your annual performance review, profitability of the firm, etc. and is not guaranteed.
- Paid time off policy is two weeks in the first year, three weeks in years 2 through 5 and four weeks per year thereafter.
- After 90 Days of Employment
- Eligible for a more flexible hybrid work schedule, with the potential of working remotely 2 days per week.
- A high-deductible Super-Med Plus Health Savings Account (HSA) plan with embedded prescription drug; 100% of Employee premium paid by Employer, with the option to add family members at Employee’s cost.
- Dental insurance, 75% of Employee premium paid by Employer, with the option to add family members at Employee’s cost.
- Life Insurance policy of $50k paid by Employer.
- 401(k) Plan: We offer both a traditional pre-tax as well as a post-tax Roth 401(k) plan. On an annual basis (depending on hire date), Employer contributes 3% of Employee salary, which is immediately vested.
- Profit Sharing Plan: We have a profit-sharing plan to which we have historically made contributions of 2% of Employee compensation, subject to a six-year vesting schedule.
In this role, you can expect to-
- Serve as a contact for our clients, listen to their needs and strive to promote customer convenience in any contact they have with the firm.
- Create total update packages for upcoming client meetings and assist in putting together complete new financial plans for onboarding new clients.
- Run retirement projections specific to each client using Right Capital software to help the client get a better understanding of where they are positioned for the long term.
- Develop account overviews for clients as well as 401(k) investment allocations and reallocations. Responsible for laying out the various up to date style box comparisons compared to the benchmark.
- Assist Advisors in completing money movement requests, tracking and processing required minimum distributions and preparing necessary forms for opening or maintaining accounts.
- Crosstrain in Investment Management department, including market research for different mutual funds, ETFs and stocks.
- Perform ad hoc tasks in support of the team and firm operations.
Required Qualifications
- Bachelor’s Degree in Personal Financial Planning Program or at least 1 year of personal financial planning experience demonstrating knowledge of investments, investment products, financial planning, tax brackets and required minimum distributions.
- Interest in pursuing career path as a Financial Advisor.
- Outgoing personality with an ability to make connections and build relationships with clients.
- Organizational skills and attention to detail.
- Ability to effectively prioritize workloads and complete tasks within well-defined guidelines and time constraints is essential.
- Strong computer skills with Microsoft Office proficiency and CRM software experience. Familiarity with portfolio accounting systems (Tamarac, Black Diamond, etc.), Salesforce, NetX360 and Laser App are a plus.
Hiring Process
Our hiring process will begin with a telephone interview with a representative from our Human Resources department. If selected to continue, a second interview (either by telephone or in person) with an Advisor or Associate Advisor will follow. Final candidates will be invited to an in-office visit lasting 2-3 hours where they will have a chance to meet various members of our team, experience our office environment and complete skills assessments focused on practical applications specific to this position. From start to finish, the hiring process may take 2-3 weeks.
For consideration, please send your cover letter and resume to [email protected].
Every business is different, and we’re here to help you maximize the value of what you’ve worked so hard to create. Since several of our clients own closely-held businesses, we are keenly aware of how difficult it is to distinguish one’s business finances from one’s personal finances. We are here to help business owners look at the big picture, to review what options are available to structure their financial situation to suit their future endeavors. We provide perspective and advice to business owners in areas such as passing your business along to the next generation or other exit strategies, addressing employee benefits, incentivizing key employees, or minimizing taxes. We generally work closely with your other advisors in this process.
Charitable giving helps you support issues that matter to you. Philanthropy is its own reward, but there are tax incentives for your generosity as well. Our team can help you determine the most effective strategies for donating assets to charities that have a place in your heart, or even help research organizations that you may want to know more about. We strive to understand your giving goals and implement a giving plan that benefits you and the recipients of your goodwill.
Effectively managing wealth requires a thorough understanding of how taxes can impact a portfolio. Tax efficiency involves a detailed and focused plan. We will work closely with your accountant to help manage your tax liability and increase the tax efficiency of your overall financial plan. We routinely review areas such as which account (taxable versus non-taxable) should we take money from first, the amount of withholding for taxes, whether a ROTH IRA makes sense, when is the best time to exercise employee stock options, and the best ways to make tax-efficient withdrawals of required minimum distributions from retirement accounts and tax loss selling, when appropriate.
Once we understand what’s important to you and learn about what you’ve done to date, we will create a customized plan that specifically addresses your unique questions and concerns. Our planning utilizes software to help us evaluate and make recommendations regarding investments, insurance, estate, retirement, education, and tax.
Our philosophy is to invest to achieve good returns with reasonable risk. Typically, clients want us to grow their assets but be defensive when necessary to preserve assets. Our goal in retirement is to invest in a manner that allows continuous distribution to maintain your lifestyle, but also to never worry about your retirement income.
We view retirement as just part of life’s journey, not an end point. You will want to establish targets and strategies to accumulate sufficient monies to allow you to maintain your desired lifestyle throughout retirement. Pre-retirement planning for Medicare coverage, timing to take Social Security benefits, and various tax planning ideas to make retirement most tax-efficient are common discussions. Our goal is for you to have a carefree retirement and not worry about money, while also encouraging you to spend and enjoy.
Most advisors focus primarily on getting documents prepared and sometimes asset and beneficiary designations adjusted on various assets. We find, however, clients frequently have many questions and want someone to talk through the issues affecting their wealth transfer plan before they are ready to have documents drafted. The Executor and Trustee decisions you make will have far-reaching impact for years to come. So we talk with you to consider how best to determine guardianship for your children, allocation of your estate, and who best should carry out your wishes after death. Designing a plan to deal with unique family situations is a common discussion for us, along with various contingencies for managing a trust, as if the grantors were still alive. Providing creditor or divorce protection for you, your heirs and grandchildren are also key provisions to consider.
We review life, disability, long-term care needs, and existing coverage. In the event clients must deal with lawsuits or divorce, we provide suggestions to protect you and your heirs during these difficult times. We have expertise in identity theft and can provide guidance to help review credit reports looking for errors or advise you when to freeze them, if necessary. Navigating Medicare/Medicaid insurance planning and Social Security decisions is also part of our normal planning.
Troy Hammer is the Operations Manager at Reed Financial Services. He joined Reed Financial Services in 2018. Troy’s area of focus is accounting and finance-related problem-solving. He has excelled in his position and benefits RFS and its clients by bringing his experience in other business projects and industries into the financial services industry.
Mark Lisachenko is the IT and Risk Management lead at Reed Financial Services. Mark has been with RFS since the summer of 2012, bringing 16 years of prior information technology and management experience. He supports the internal operations and systems of the company, from portfolio accounting to information technology.
Nikki Huffman is Executive Assistant at Reed Financial Services. Nikki has the ability to make people feel welcome and comfortable at Reed which helps build the strong relationships that exist between Reed and its clients.
Michelle Hohlbaugh has been the Senior Executive Assistant at Reed Financial Services since 1999. She is a very self-motivated individual who enjoys the variety and challenges of projects that come from working in a company that puts its client’s needs and desires first.
Amanda Lisachenko, CFP, is the President of Reed Financial Services. She has spent her professional career working with Reed Financial Services since starting in 1998. Amanda works with a broad range of individuals, including pre-retirees, those living in retirement, professionals, doctors, multi-generational families, and business owners, providing financial planning, estate planning, retirement planning, investment management, business succession planning, and charitable planning.